Adams Natural Resources Fund Inc. Sells 2,200 Shares of TechnipFMC plc (NYSE:FTI)

Adams Natural Resources Fund Inc. lowered its stake in shares of TechnipFMC plc (NYSE:FTI) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,600 shares of the oil and gas company’s stock after selling 2,200 shares during the period. Adams Natural Resources Fund Inc.’s holdings in TechnipFMC were worth $4,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whittier Trust Co. bought a new stake in shares of TechnipFMC during the first quarter valued at approximately $29,000. Blue Trust Inc. grew its holdings in shares of TechnipFMC by 203.6% in the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 735 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of TechnipFMC by 73.1% in the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 492 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of TechnipFMC in the third quarter valued at $30,000. Finally, ORG Partners LLC purchased a new position in shares of TechnipFMC in the second quarter valued at $33,000. Institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FTI. Susquehanna raised their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Tuesday. Bank of America raised their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 14th. BMO Capital Markets raised their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, October 10th. Finally, Citigroup raised their target price on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and a consensus target price of $32.41.

TechnipFMC Stock Performance

FTI stock opened at $26.10 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.84. The business has a 50-day moving average price of $26.12 and a 200 day moving average price of $26.18. The company has a market capitalization of $11.10 billion, a P/E ratio of 17.17 and a beta of 1.50. TechnipFMC plc has a 1-year low of $18.33 and a 1-year high of $29.85.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.25. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. As a group, equities research analysts forecast that TechnipFMC plc will post 1.38 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.77%. TechnipFMC’s dividend payout ratio is presently 13.16%.

TechnipFMC declared that its Board of Directors has approved a share buyback program on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.